Veterinary Orthotics-Prosthetics Market size was valued at USD 73.62 billion in 2024 and is expected to reach USD 245.29 billion by 2037, expanding at around 9.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of chip antenna is evaluated at USD 79.33 billion. The growth of the market can be attributed to the growing count of injured animals in road accidents and falls along with the increasing populace opting for veterinarian guidance and intervention. Furthermore, the growing trend of owning pets such as cats, dogs, and others is also expected to hike the market growth over the forecast year. For instance, it is estimated that approximately 1 to 3 million accidents occur on the road by motor vehicles either killing or injuring large animals annually in the United States. Wildlife-vehicle accidents account for nearly 21% of reported accidents in rural states such as Wyoming.
Global veterinary orthotics-prosthetics market trends such as the growing animal population and the increasing number of veterinary hospitals are expected to influence the growth of the market positively over the forecast period. For instance, in 2021, more than 10 thousand veterinary hospitals were functioning in India, the number of veterinary dispensaries was evaluated to be around 25,000, and the number of veterinary aid centers reached approximately 26,000 in the same year. Additionally, several veterinary anesthesia equipment are used before the process in which orthotics-prosthetics are placed on injured or missing organs of the pets. Hence, the market is expected to grow exponentially over the forecast period.
Growth Drivers
Increasing Number of Livestock - For instance, in December 2021, the count of livestock in Europe reached approximately 143 million pigs, 75 million bovine animals, 61 million sheep, and 12 million goats. Domesticated terrestrial animals that are raised for a variety of goods and services such as locomotion, meat, milk, eggs, hides, fibers, and feathers are instances of livestock. The phrase livestock systems encompass all aspects of livestock resource supply and use, including livestock distribution and abundance, the various production systems in which they are raised, and projections of consumption and output now and in the future. The globally increasing number of livestock requires good care and treatment of animals. Therefore, the mounting number of livestock is fueling the growth of the global veterinary orthotics-prosthetics market over the forecast period.
Upsurge in Pet Adoption Across the Globe - It has been observed that nearly 18 million households worldwide are anticipated to own pets by the end of 2022.
Spike in Obesity or Overweight Issue in Animals - A clinical survey conducted in 2018 found that nearly 56% of dogs and 58% of cats were clinically overweight, indicating that an estimated 51 million dogs and 55 million cats were overweight or obese around the globe.
Worldwide Increase in Pet Insurance – According to a report, at the end of 2021, the total number of pets insured in the United States was nearly 4 million, which denotes a 29% increase from the year 2020.
Rising Number of Veterinary Hospitals and Polyclinics - It was observed that, in India, there were close to 12,050 veterinary hospitals and polyclinics during the fiscal year 2021. Approximately 66,000 veterinary institutions were evident across the nation that year, in addition to numerous aid centers and dispensaries.
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
9.7% |
Base Year Market Size (2024) |
USD 73.62 billion |
Forecast Year Market Size (2037) |
USD 245.29 billion |
Regional Scope |
|
Animal Type (Canine, Feline)
The global veterinary orthotics-prosthetics market is segmented and analyzed for demand and supply by animal type into canine, feline, and others. Out of these types of animal types, the canine segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the increasing people’s concern to provide better healthcare to their pets, worldwide backed by the growing pet ownership, and growing expenditure on pets. For instance, according to a survey conducted in 2021-2022, around 68 million households in the United States own a dog. Furthermore, canine family members are kept as pets, and if they receive some sort of disease, the chances are that their owner might also develop the symptoms. The common diseases that can occur in these pets are canine influenza, canine parvovirus, canine distemper, leptospirosis, heartworms, fleas, and others. Nearly 5000 dogs infected with canine parvovirus were treated between 2008 to 2019.
Product Type (Orthotics, Hip Braces, Stifle Braces, Carpal/Tarsal Braces, Contracture Bracing, Deformity Braces, Prosthetics)
The global veterinary orthotics-prosthetics market is also segmented and analyzed for demand and supply by product type into orthotics, hip braces, stifle braces, carpal/tarsal braces, contracture bracing, deformity braces, prosthetics, and others. The orthotics segment is expected to garner a significant share among these segments. The orthotics sector is responsible for developing, designing, fitting, and manufacturing orthoses. Orthotics are sometimes known as splints and braces and are used to correct musculoskeletal deformities of the body. Furthermore, the prosthetics segment is also set to capture a significant share of the market over the forecast period. prosthetics are the devices that are used in the place of missing leg segments in animals. They are fixed in the body to position, immobilize, align, assist, and correct the weak muscles.
Our in-depth analysis of the global market includes the following segments:
By Product Type |
|
By Animal Type |
|
By End-User |
|
North American Market Forecast
North America industry is expected to dominate majority revenue share of 40% by 2037. The growth of the market can be attributed majorly to the rising disposable income, increased accessibility to animal treatment modalities, an increase in the use of veterinary products, and growing pet adoption in the region. According to the data released by the Bureau of Economic Analysis, in the United States, personal income and disposable personal income (DPI) have increased by USD 107.2 billion and USD 89.7 billion respectively by March 2022. Furthermore, the rise in the number of companion animals in the region backed by the increasing number of veterinary hospitals is also anticipated to hike the market growth over the forecast period. As of 2018, nearly 38% of households in the United States owned dogs, around 25% owns cats, and approximately 0.6% owned horses while the veterinary visit per house is expected to be around by dog’s owner (2%), cats owner (2%), and by horse owners (1%). Additionally, the number of veterinary practices in the region is expected to be around 30,000 currently. Hence, all these factors are anticipated to enlarge the market size over the forecast period.
APAC Market Statistics
Furthermore, due to an increase in pet adoption and consumer spending on veterinary treatment, Asia Pacific is predicted to have profitable growth during the projection period. Additionally, developing nations such as China and India are experiencing rapid economic growth, which has increased disposable income, particularly among middle-class households, which has fueled demand for expensive pets such as horses, dogs, and cats, among other things. This has boosted industry growth in the region and at least two decades ago when this study was conducted (2002).
Handicappedpets, Inc. to launch a new line of custom orthosis and leg braces created by using the same medical-grade materials used in the human field of orthotics and prosthetics. The durable braces help pets remain active and bear weight sooner.
Animal Ortho Care (AOC) to launch a new orthopedic support line for dogs, the EMbrace, designed to treat carpal, knee, hock, and paw problems. These bracing products are incredible and projected to use as orthopedic stabilization supports.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?